Armed with a $1.64 billion breakup fee from former merger partner AbbVie and a brand-new $2.1 billion revolving loan facility, Shire looks ready to strike a deal. Rumor says it's revisiting some of its old targets, including New Jersey's NPS Pharmaceuticals.
The FDA has postponed its final decision on an orphan drug from NPS Pharma, taking its time with the company's application and delaying the fate of a closely watched therapy.
NPS Pharmaceuticals walked away from an FDA panel meeting with a recommendation to approve its orphan drug, but a lukewarm reception and nagging safety concerns have investors fearing the worst.
NPS Pharma is moving toward FDA approval with its treatment for a rare disease, as agency staff applauded the drug's efficacy ahead of a make-or-break panel vote.
Rumors that Shire is preparing a 10-figure bid for NPS Pharma may have been overblown, but analysts say the Irish drugmaker should take a hard look at M&A if it wants to avoid becoming a target in its own right.
The story about Shire making a $4 billion advance on NPS Pharmaceuticals? Never happened, according to the latter company, which broke long-standing industry tradition by publicly commenting on a market rumor.
A questionable Friday rumor has evolved into a market-moving clamor, as London's Times reports that Shire has locked down a $5 billion credit facility and intends to make a bid for specialty drugmaker NPS Pharma.
Citing "usually well-informed sources," the Financial Times reports that Shire is considering a $4 billion bid for rare disease specialist NPS Pharma, a deal that would bolster the company's last blockbuster acquisition and perhaps get it out of rivals' crosshairs.
Big Pharma has been whacking a lot of jobs in the last couple of years, part of its periodic boom-and-bust cycle of hiring when times are good and firing when they are not. But some small drug companies have been trying a different model: Just don't add employees in the first place.
Eli Lilly has found a new path into the hot rare-disease field. An NIH program has backed the Indianapolis-based drug giant's preclinical-stage research of a potential treatment for a hormone deficiency often caused by a genetic defect.